Imperva Inc (NYSE: IMPV) Investor Securities Class Action Lawsuit 04/11/2014

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of January 22, 2018 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Imperva
Case Name: 
Imperva Shareholder Class Action lawsuit 04/11/2014
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NYSE: IMPV
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/11/2014
Class Period Begin: 
05/02/2013
Class Period End: 
04/09/2014
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
06/10/2014
Date Settled: 
10/11/2017
Settlement Amount: 
$19,000,000
Deadline to Participate in Settlement: 
01/22/2018
Settlement Notice: 
Settlement Proof: 
Summary: 

October 11, 2017 - The court preliminarily approved the settlement.

August 31, 2017 - Parties filed a stipulation of settlement.

May 16, 2016 - The court granted in part and denied in part defendants' motion to dismiss.

February 10, 2016 - Defendants filed a motion to dismiss.

October 16, 2015 - The lead plaintiff filed another amended complaint.

September 17, 2015 - The court granted defendants motion to dismiss with leave to amend.

January 6, 2015 - The defendants filed a motion to dismiss.

October 11, 2014 - The lead plaintiff filed an amended complaint.

August 7, 2014 - The lead plaintiff and lead counsel were appointed.

July 23, 2014 - Lead plaintiff motions were filed.

April 11, 2014 - An investor in shares of Imperva Inc (NYSE: IMPV) filed a lawsuit in the U.S. District Court for the Northern District of California against Imperva Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between May 2, 2013 and April 9, 2014.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Imperva Inc (NYSE: IMPV) between May 2, 2013 and April 9, 2014, that Imperva Inc and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff claims that between May 2, 2013 and April 9, 2014 defendants issued materially allegedly false and misleading statements regarding the Company’s operations and business and its financial results and that as a result of defendants’ statements, Imperva Inc securities traded at allegedly artificially inflated prices between May 2, 2013 and April 9, 2014, with its stock price reaching a high of $65.53 per share on March 6, 2014, and that the Company’s top officers and directors were able to sell $25.9 million worth of their Imperva Inc stock at allegedly inflated prices, including $11.8 million worth of stock sold by the Chief Executive Officer and the Chief Financial Officer.

Imperva Inc reported that its annual Total Revenue rose from $104.23 million in 2012 to $137.76 million in 2013 while its Net Loss increased from $7.39 million in 2011 to $25.18 million in 2013.

Shares of Imperva Inc (NYSE: IMPV) grew from $28.52 per share in late 2012 to as high as $65.53 per share in early March 2014.

Then on April 9, 2014, Imperva Inc announced its preliminary first quarter 2014 financial results. Imperva Inc said that it expects to report total revenue for the first quarter of 2014 in the range of $31.0 million to $31.5 million compared to the company’s prior guidance of total revenue in the range of $36.0 million to $37.0 million.

Imperva Inc also said that it expects to report non-GAAP operating loss in the first quarter of 2014 in the range of $(9.5) million to $(10.5) million, and expects to report non-GAAP net loss per share attributable to Imperva Inc stockholders in the range of $(0.40) to $(0.44) using approximately 25.2 million weighted average shares, based on preliminary financial information, which is compared to the company’s prior guidance of a non-GAAP operating loss in the range of $(8.0) million to $(9.0) million and non-GAAP net loss per share attributable to Imperva Inc stockholders in the range of $(0.33) to $(0.37).

Shares of Imperva Inc (NYSE: IMPV) declined to as low as $26.67 per share on April 10, 2014.

On April 11, 2014, Imperva Inc (NYSE: IMPV) shares closed at $28.11 per share.